CALGARY, May 15, 2013 /CNW/ - Northern Property Real Estate Investment Trust ("NPREIT") (NPR.UN - TSX) announced its May 2013 monthly distribution in the amount of $0.1275 per unit, payable on June 14, 2013 to unitholders of record at May 31, 2013.
As at the date hereof, there are 31,981,970 Trust Units (NPR.UN) issued and outstanding and 67,796 Class B exchangeable limited partnership units issued and outstanding.
NPR is primarily a multi-family residential real estate investor, providing a broad spectrum of rental accommodations in Canadian secondary markets with strong economic fundamentals where capitalization rates are somewhat higher and competition somewhat restrained. NPR's residential portfolio is comprised of a multi-family segment: apartments, town homes and single family rental units; and execusuites and hotels, where the rental periods range from a few days to several months. NPR also has a portfolio of commercial buildings focused on government tenancies predominantly located in Canada's far north. Geographically, NPR operates in British Columbia, the Northwest Territories, Alberta, Saskatchewan, Nunavut, Quebec and Newfoundland and Labrador. As at March 31, 2013 NPR has 9,743 residential units and 1,076,900 square feet of commercial space.
SOURCE: Northern Property Real Estate Investment Trust
For further information:
Mr. Robert Palmer, Chief Financial Officer, (403) 531-0720